The person said Trump's legal team didn't know "exactly what Cohen" has told others, but added that the lawyers "have the tapes" and "heard them all".
"I need to open up a company for the transfer of all of that info regarding our friend David, so that I'm going to do that right away", Cohen says in the recording. Trump is heard saying "pay with cash" but the audio is muddled and it's unclear whether he suggests paying with cash or not paying.
Cohen's attorney, Lanny Davis, released the recording to CNN on Tuesday night in what is seen as an open hostility between the USA president and Cohen.
"Cohen recorded everything", said Bryan Lanza, a former Trump campaign official. "One-fifty?" Trump asks. Cohen says yes.
Napolitano warned that if the topic of the conversation can be verified, it would invalidate attorney-client privilege, which usually protects information exchanged between lawyers and their clients. Cohen said in an interview with ABC published in early July that his family and country would come before his loyalty to Trump, and CNNreported later that Cohen had told his friends he did not think Trump would pardon him if it came to that point. "The recording. between Trump and Cohen. confirms the man who now occupies the Oval Office had contemporaneous knowledge of a proposal to buy the rights to the story of Karen McDougal, a woman who has alleged she had an extramarital affair with Trump", Stris tweeted.
Luckily for President Trump, he has one of the finest legal minds alive to help bail him out of a tough...sorry, folks.
Cohen, who once said that he was prepared to "take a bullet" and "do anything" to protect Trump, is under scrutiny from federal prosecutors in Manhattan.
Giuliani provided a transcript to CNN that Trump told Cohen, "Don't pay with cash. check". A spokesman for the U.S. attorney's office in Manhattan, which is investigating Cohen, declined to comment.
Lanny Davis, Cohen's lawyer, said on ABC's "Good Morning America" on Wednesday that Cohen is not seeking a pardon from the president as he faces a federal criminal investigation on campaign finance and bank fraud allegations in NY. Cohen is under federal investigation for his own business practices and will likely be charged.
"He's now dedicated to telling the truth to everyone, and we'll have to see what happens", Davis said.
In the months since, speculation has grown about what the legal pressure on Cohen might mean for Trump - discussion far removed from Cohen's claim a year ago that he would "take a bullet" for the President.
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